Senior officials from the Asia-Pacific Economic Cooperation economies have agreed to launch a strategic study of proposals for a regional free trade zone, it was revealed on Thursday.

The study of the Free Trade Area of the Asia-Pacific concept will last around two years, the forum's top official said.

"The whole process through the year has been about understanding what FTAAP might mean, how it might get there, how long it might take, and how it might fit in with these other under-negotiation trade agreements," Alan Bollard, executive director of the APEC Secretariat, said in Beijing.